Cutter Enterprises purchased equipment for $51,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $5,700. Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021, would be: Multiple Choice $20.400 and $24.900 respectively. $20,400 and $30.600 respectively. $18,120 and $32,880 respectively. $18,120 and $30,180 respectively